By Jonathan Spicer and Walden Siew NEW YORK (Reuters) - Britain's economic recovery is showing signs that it can reach self-sustaining momentum, but monetary policy will need to remain exceptionally loose for some time to come, Bank of England Governor Mark Carney said on Monday. Responding to some arguments that rich economies might be stuck in a rut of low growth, Carney said in a speech that he was confident that monetary policy was gaining traction and that a 'liquidity trap' had been avoided. "Leverage is still high and weak demand for advanced economy exports could persist for some time." Against a background of high debt and weak investment growth, former U.S. Treasury secretary Larry Summers said recently that real interest rates consistent with full employment could now be minus 2-3 percent, meaning central banks would struggle to spur a return to growth. Carney said the Bank of England's view was that Britain's equilibrium real interest rate - the level needed to get growth back to normal over several years without firing up inflation - was still negative but slowly moving back towards zero.
BANGUI, Central African Republic (AP) — Dozens of young men stood waiting for storm clouds to pass, as wind stirred up swirls of red dust on the largely deserted street in Central African Republic's capital. Through the drizzle, they spotted a man in a flowing white robe traditionally worn by Muslims, hand-in-hand with his adolescent son.